Its a pleasure to read someone who makes the occasional astute observation:

“Saying we’ve gone too far, too fast’ doesn’t make a lot of sense to me – certainly not when the technical data remain strong.This isn’t brain surgery, it’s understanding how markets work. A trend in force tends to stay in force until ‘something’ changes. I’m watching for the ‘something’ that might signal the change – not yet! It could start at any time, but two off days with good data just doesn’t cut it.”